Chicago, Illinois prices:$1 in 1917→$20.66 in 2020

Inflation in Illinois

Prices in Chicago, 1917-2020 ($1)

According to the U.S. Bureau of Labor Statistics, prices in Chicago, Illinois were
1,966.17% higher
in 2020 versus 1917 (a $19.66 difference in value).

Between 1917 and 2020:Chicago experienced an average inflation rate of 2.98% per year.
This rate of change indicates significant inflation.
In other words, $1 in Chicago in the year 1917 would cost $20.66 in 2020 for an equivalent purchase.
Compared to the overall inflation rate of 2.96% during this same period, inflation in Chicago was
higher.

In the year 1917: Pricing changed by 13.97%, which is
significantly above the average yearly
change in Chicago during the 1917-2020 time period.
Compared to inflation for all items in 1917 (17.81%), inflation in Chicago was
much lower.

Price Inflation in Chicago, Illinois since 1914

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing:
1919 (21.36%),
1920 (19.10%),
and 1918 (16.80%).

How to calculate the inflation rate for Chicago, 1917-2020

Then plug in historical CPI values from above. The CPI for Chicago, Illinois was 11.758 in the year 1917 and 242.947 in 2020:

242.947 / 11.758* $1 = $20.66

Therefore, according to U.S. Bureau of Labor Statistics, $1 in 1917 has the same "purchasing power" as $20.66 in 2020 (in the CPI category of Chicago, Illinois).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Chicago, Illinois in 1914. In addition to Chicago, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.